The Standard and Poors stock index dropped on Friday. However, the rally from last March remains intact. Market Gurus have been baffled by the rally. It has been fairly long as stock market rallies go. Is it a signal that a recovery is on the way? Is it a bear market rally? Or is it the only place that cash is going with interest rates on bank money market accounts near 1%? It seems like we should know in the near future. My computer-programs have no new signals in this sector.
As a matter of fact, there are no new signals for Monday. A summary of where we are appears below:
Short Euro (EOU): Entry Price 18.49 Stop: 18.39 Last: 18.50
Cotton ETF(BAL) Entry Price: 36.75 Stop: 34.55 Last: 35.20
British Pound ETF:FXB Entry Price: 160.88 Stop: 161.12 Last: 162.13
Short Euro EUH10: 144.97 Stop: 144.65 Last: 143.83
Cotton CTH10 Entry Price: 74.00 Stop: 70.80 Last: 72.08
British Pound BPH10 Entry Price: 161.06 Stop: 161.54 Last: 163.21
Use caution in setting the stop on the Pound because this stop is pretty far away. While profits are likely, they aren't much with the current stop.
Short Gold GCG10 Entry Price: 1137.90 Stop: 1133.40 Stopped out at 1133.40. Profit: $450
Any views expressed herein are provided for information purposes only and should not be construed in any way as an offer, an endorsement, or inducement to invest.
The quotes and symbols used in the BLOG are believed to be reliable, but no guarantees are made with regard to the accuracy.
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